L’Oréal, the world’s biggest beauty company, continues to post record-breaking results. The multinational’s second quarter 2022 sales reached 9.31 billion euros (AUD$13.61 billion) – up 22.7 per cent on the same period a year earlier.
As China returned to double-digit growth, the L’Oréal Luxe division (Kiehl’s, Lancôme, YSL Beauté) enjoyed sales of 3.41 billion euros (AUD$4.98 billion) – up 26.1 per cent. All sectors – fragrance, skincare and makeup – performed strongly.
The Active Cosmetics division (CeraVe, La Roche-Posay, SkinCeuticals) also continued its gravity-defying run. Q2 sales rose 33.9 per cent to 1.28 billion euros (AUD$1.87 billion). The power brands also out-paced the overall dermocosmetic market.
Double digit growth was again the norm for L’Oréal Professional Products division (Kerastase, Redken, L’Oréal Professionnel). Sales surged 20.7 per cent in Q2 to 1.12 billion euros (AUD$1.63 billion), fueled by major gains in India, China, North America and Germany.
The Consumer Products division, L’Oréal’s largest, is home to the megabrands L’Oréal Paris, Maybelline New York and Garnier. After posting single digit growth in previous years, the portfolio enjoyed a 16.8 per cent rise in sales in the second quarter to 3.49 billion euros (AUD$5.1 billion).
The overall second-quarter results pushed L’Oréal’s half year sales to 18.36 billion euros (AUD$26.85 billion) – up 13.5 per cent.
After two years of the pandemic, consumers confirm their desire to socialise and indulge themselves with innovative and superior beauty products, which in turn is fueling the growth of the beauty market, said Nicolas Hieronimus, CEO of L’Oréal.
“L’Oréal grew twice as fast as the market and has strengthened its position as the world’s number one beauty company.”
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